Surgical Equipment

There are several factors that currently contribute to the growth of the surgical equipment market worldwide. Some of these factors-such as advancement in anesthetics, an aging population, technological innovation, and the emergence of powerful economies-have propelled growth in the surgical equipment market.

According to the estimates of leading market research firms, the worldwide market for surgical equipment is likely to be worth USD 7 billion by the end of 2016, registering a CAGR of 6%.

These figures indicate the immense scope that exists within the surgical devices market. Some of the more prominent segments within the market that are poised for healthy growth include: powered surgical equipment (such as cutting tools, lasers and electrosurgery tools), non-powered handheld surgical instruments (such as blades, scalpels, scissors and clamps), and equipment used for wound closure.

While growth drivers in this market are many, market players cannot afford to overlook restraints in this market that exist in the form of high entry and set-up costs, highly specialized technical knowhow, stringent regulatory mandates, violation of which may expose players to heavy fines or even license cancellation.

Currently, lasers are a promising segment within the surgical equipment market, and account for nearly 50% of the powered surgical equipment segment, registering an annual growth rate of nearly 7%. Surgical sutures also show a CAGR of nearly 7%, with analysts estimating this segment to reach nearly USD 4.5 billion by the end of 2016. Overall, the global market for wound closure products is likely to demonstrate yearly growth of approximately 5% up to 2016. Wound closure products such as tissue sealants and hemostats are essential in controlling bleeding during surgical procedures.

As medical conditions such as heart ailments, pancreatic diseases, obesity, and gall bladder diseases as well as the demand for cosmetic surgical procedures continue to show an upward growth trend, the market for surgical equipment will continue to register growth.

For the latest and forward-looking insights into the surgical equipment market, industry leaders look towards ResearchMoz.us. We carry a handpicked selection of market research reports centered around the surgical equipment industry. Our reports are sourced only from the most reputable market research firms, giving you a reliable tool to with which to plan your future growth and expansion strategies.

To learn more about purchasing high-quality market research reports from ResearchMoz.us, please speak with one of our Research Coordinators today.